Trends come and go, but when it comes to business, you need to have your finger on the pulse of societal changes in order to be successful. If you’re thinking of starting a business in 2020, you don’t want to pick a niche or trend that dies out quickly, especially after investing so much time, money and energy into your entrepreneurial venture. It’s obviously much better to start a business in an industry that’s growing and has no signs of slowing down.
With that in mind, here’s a list of three rising industries in 2020 that you can become a part of.
- Digital Marketing
The industry for digital marketing and advertising isn’t going away anytime soon. In fact, it’s one of the best industries out there right now, especially when it comes to embracing change, being adaptable and staying ahead of the curve. The latest trend in digital marketing that has changed the game is influencer marketing, spawning an entirely new breed of marketing agencies: influencer agencies. These agencies build and foster relationships with top influencers and know their reach, engagement and audience in order to help sell a product or service. For anyone interested in breaking into the digital marketing space, working with influencers is one of the best ways to go about it in 2020. As long as you are social media savvy, you can get in on this digital marketing trend and leave your mark.
- Cannabis
Even though cannabis is not legal in the UK, the cannabis industry is still expected to make waves in 2020. How is this possible if it’s still listed as an illegal substance? There are legal cannabis derivatives like CBD that can be sold, particularly for medical purposes. Furthermore, some jurisdictions have already started making moves towards deregulation, thanks to Canada’s full legalisation in 2018 and Germany’s gradual deregulation for medicinal use. Companies and investors are starting to take notice that there is some opportunity in the UK market.
As the industry grows, more businesses will open and start exploring the market. If you’re interested in joining the industry, there’s more to consider than just selling CBD products. As with any new business, there’s a lot to manage, including product stock, distribution, logistics, and of course, marketing. While it’s tricky to advertise CBD, every business needs a website, both for marketing purposes and to facilitate sales through an e-commerce platform. You can check out Cude Design for cannabis web design to get assistance with this aspect of your business.
- Machine Learning
If your skillset includes being able to utilise Big Data properly, then you have a plethora of opportunities ahead of you, not just from a job seeker’s point of view, but from a business owner’s perspective as well. AI is a hot industry, but predictive analytics using AI has just exploded onto the scene and is expected to continue growing for the next few years, at least. From creating chatbots, to helping businesses use all kinds of data to achieve their goals, to producing accurate prediction models, there are many applications that you can jump on. All kinds of industries need this type of information, too, like healthcare, retail, software development, financial, and so many more. You even have the option of picking an industry you’re interested in and setting up shop.
